Glocal real estate market: evidence from European Countries Radoslaw Wisniewski University of Economics and Human Sciences in Warsaw, Warszawa, Poland and Central Office of Measures, Warszawa, Poland, and Justyna Brzezicka Faculty of Geoengineering, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland Abstract Purpose – This paper aims to analyse globalisation, localisation and glocalisation on the real estate market and define the characteristic features of a glocal real estate market (GREM). The GREM involves real estate properties and real estate products, as well as linking the local and global dimensions of real estate market. Further aims of the study were to provide a methodology for developing the glocal real estate market index (GREMI), and compare selected European markets by analysing their glocalisation potential. Design/methodology/approach – A novel method of identifying and assessing the GREM was prepared in the work. The methodology provides tools for calculating the GREMI. This is an index based on a few dozen variables from various thematic scopes, describing the glocalisation potential of a selected market, calibrated to a range <0, 1>. GREMI values were calculated for 12 countries, which accessed European Union (EU) in 2004. The sample covers period from 2004 to 2017. Findings – The study shows that the GREMI continues to increase in all countries over time and the results are becoming synchronised. Romania is a country with the highest number of minimum GREMI values in all years (2004–2017). The highest values of the GREMI were determined in Estonia over the period of nine years (2004–2006, 2008 and 2013–2017). Research limitations/implications – The prepared index may be applied to analyse different real estate markets, though the necessity to select an identical set of variables for analysis to allow for comparing between markets is a limitation for applying the method. The actual selection of variables is also a study limitation, which was of an opening nature to research in this scope and may be disputable. Originality/value – This paper provides the original methodology of the GREMI index for countries joining the EU from 2004 onwards. Keywords Glocal real estate market (GREM), Glocal real estate market index (GREMI), Locality, Glocality, Globality Paper type Research paper 1. Introduction In recent years, the real estate market became an important segment of national economies around the world [1][2]. Its significance can be attributed to the social and economic role of real estate in a market economy. Real estate has twokey functions, namely, it is a place of residence and a capital investment (Łaszek, 2004). Real estate can also be used as collateral in mortgage loan transactions (Sommervoll et al., 2010). The former aspect is related to geographical space (selected location), whereas the latter concerns economic space (every location in the world). Therefore, the location of real estate and the localisation of a function, Glocal real estate market Received 17 September 2019 Revised 28 January 2020 20 April 2020 2 June 2020 15 June 2020 Accepted 16 June 2020 Journal of European Real Estate Research © Emerald Publishing Limited 1753-9269 DOI 10.1108/JERER-09-2019-0031 The current issue and full text archive of this journal is available on Emerald Insight at: https://www.emerald.com/insight/1753-9269.htm